FP Markets vs Public.com: A Complete Head-to-Head Broker Comparison for 2026

Regulation & Safety

When it comes to the safety of your capital, FP Markets stands on considerably stronger ground. Founded in Sydney, Australia in 2005, FP Markets is regulated by two of the world's most respected financial watchdogs: the Australian Securities and Investments Commission (ASIC) and the Cyprus Securities and Exchange Commission (CySEC). This dual-regulatory structure means traders benefit from strict capital segregation requirements, negative balance protection in applicable regions, and regular compliance audits that provide meaningful peace of mind.

Public.com, founded in New York in 2019, is regulated by the US Securities and Exchange Commission (SEC). The SEC is undeniably a credible and powerful regulator within the United States, offering solid investor protections for domestic users. However, Public.com's single-jurisdiction oversight and relatively short operating history of just seven years means it cannot yet match FP Markets' two-decade track record of regulatory compliance across multiple international bodies.

For traders outside the US, Public.com's regulatory framework offers little practical protection, whereas FP Markets' ASIC and CySEC licences serve a global client base. If regulatory robustness is a top priority — and for most serious traders it should be — FP Markets is the clear winner in this category.

Fees, Spreads & Commissions

Both brokers advertise spreads starting from 0 pips, but the underlying fee structures are notably different. FP Markets operates a Raw Account model where spreads begin at 0 pips with a commission of $3 per lot. This is an extremely competitive rate by institutional standards and makes FP Markets one of the most cost-efficient brokers available for active forex and CFD traders who execute high-volume strategies.

Public.com, by contrast, offers genuinely commission-free trading on stocks and crypto with no per-trade charges. There are no deposit fees and no withdrawal fees on either platform, which levels the playing field somewhat for casual investors. However, Public.com's zero-commission model is limited exclusively to stocks and crypto within the US market, meaning it lacks the versatile pricing structure needed for forex, commodities, or indices trading.

For long-term stock investors making occasional trades, Public.com's commission-free model is genuinely attractive. But for active traders, scalpers, or anyone seeking exposure beyond equities, FP Markets' tightly controlled spreads and transparent commission structure deliver far greater overall value. Our rating reflects this: FP Markets earns a higher score when the full fee picture is assessed across all available asset classes.

One important note: FP Markets requires a minimum deposit of $100 to open a live account, whereas Public.com requires no minimum at all. For investors just starting out with very limited capital, this distinction matters, and Public.com deserves credit for its accessibility.

Trading Platforms & Technology

FP Markets offers a genuinely impressive technology stack. Traders can access MetaTrader 4 (MT4), MetaTrader 5 (MT5), TradingView, and a proprietary mobile application. MT4 and MT5 remain the gold standard for forex and CFD trading globally, supporting Expert Advisors (EAs), algorithmic trading, custom indicators, and advanced charting. The addition of TradingView integration is a significant differentiator, giving traders access to one of the most powerful and socially connected charting ecosystems in the industry.

Public.com, on the other hand, operates exclusively through its proprietary mobile application. While the app is well-designed, clean, and beginner-friendly, it offers only basic charting and order management capabilities. There is no desktop trading platform, no support for algorithmic strategies, and no access to third-party tools like MT4 or TradingView. For a casual investor making occasional stock purchases, the app is perfectly adequate. For anyone requiring professional-grade execution and analysis tools, it falls significantly short.

The platform gap between these two brokers is one of the starkest differences in this comparison. FP Markets is clearly engineered for traders who demand depth, speed, and customization. Public.com is designed for simplicity and accessibility. Neither approach is wrong, but traders must honestly assess which category they fall into before committing.

Markets & Asset Coverage

FP Markets offers access to six distinct asset classes: Forex, CFDs, Stocks, Indices, Commodities, and Crypto. With over 10,000 instruments reportedly available across these categories, FP Markets gives traders the ability to build genuinely diversified portfolios and execute complex multi-market strategies from a single account. Leverage up to 1:500 is available on select instruments, which is a significant draw for professional and experienced retail traders seeking amplified exposure.

Public.com keeps things deliberately focused, offering access to Stocks and Crypto only. This narrow scope is a deliberate design choice aimed at the everyday US investor who wants to build a long-term portfolio without the complexity of derivatives, leverage, or international currency markets. The platform also offers fractional shares, which is a useful feature for those working with smaller capital amounts.

For most traders reading this comparison, FP Markets' breadth of market coverage will be a decisive advantage. The ability to trade forex pairs, commodities like gold and oil, global indices, and crypto — all under one regulated roof — is a compelling proposition that Public.com simply cannot replicate. However, if your sole focus is building a US stock and crypto portfolio without any leverage, Public.com's simplicity becomes a genuine virtue rather than a limitation.

User Experience & Account Accessibility

Public.com was built from the ground up with the beginner investor in mind. Its mobile-first interface is intuitive, visually appealing, and requires no prior trading knowledge to navigate. The zero minimum deposit policy removes one of the biggest psychological barriers to getting started, and the commission-free structure means new investors can practice portfolio building without worrying about fees eating into small positions.

FP Markets caters to a more experienced demographic. While the broker does offer educational resources and a demo account, the sheer breadth of platforms, account types, and instruments can be overwhelming for a first-time trader. Setting up an MT4 or MT5 account, understanding raw spreads versus standard spreads, and managing leverage responsibly all require a baseline level of market knowledge that beginners may not yet possess.

That said, FP Markets has invested meaningfully in its onboarding materials and customer support infrastructure over its two-decade history. Traders who commit to the learning curve will find that FP Markets rewards them with a professional-grade environment that can scale with their skills. Public.com, by contrast, may eventually feel limiting as an investor's sophistication grows.

Overall Verdict

After evaluating both brokers across regulation, fees, platforms, markets, and user experience, FP Markets emerges as the stronger overall option with our rating of 3.8/5 compared to Public.com's 3.0/5. Its dual regulatory oversight, vastly superior platform ecosystem, and access to six asset classes make it the right choice for any trader serious about developing and executing a comprehensive investment strategy.

Public.com is not without merit. Its zero-commission, zero-minimum-deposit model makes it one of the most accessible entry points into investing for US-based beginners. The clean mobile app and straightforward stock and crypto access serve a specific audience very well, and for that audience, it delivers genuine value.

The decision ultimately comes down to your trading profile. If you are an active, experienced, or growth-oriented trader who wants professional tools, global market access, and strong regulatory backing, FP Markets is your broker. If you are a US-based beginner looking to dip your toes into stock and crypto investing without any upfront costs or complexity, Public.com is a reasonable starting point — just be aware of its limitations as your needs evolve.